Thailand, UK strengthen ties towards strategic economic partnership

[webfact]

 

Thailand and the United Kingdom (UK)are looking to fortify their economic ties now the toxic dust of Brexit has settled. With the next Joint Economic and Trade Committee (JETCO) meeting on the horizon this November, it’s believed that both countries are ready to elevate their relationship to a potential strategic economic partnership.

 

JETCO Director-General Auramon Supthaweethum spoke at length about the expected sectors that are set to benefit from this economic bolstering. These sectors range from food and drink, health, education, the automotive industry, agriculture, and the digital sector. The subsequent aim of these actions is to form a foothold for future negotiations of free trade between the two nations.

 

The economic relationship between Thailand and the UK has flourished since the UK severed ties with the European Union in 2021. It was within that same year that the two countries put pen to paper and agreed on a Memorandum of Understanding. The mission is to establish JETCO. The goal of this endeavour was the amplification and enhancement of economic cooperation in trade and investment, focussing particularly on sectors that spark mutual interest, reported Bangkok Post.

The first ministerial JETCO meeting was hosted in June of the previous year. Among the attendance were Commerce Minister Jurin Laksanawisit and the UK’s Minister of State for Trade Policy, Penny Mordaunt. Within this first meeting, a 1-2 year work plan was approved to facilitate trade expansion and reduce trade barriers within the aforementioned mutually interesting sectors.

 

By Alex Morgan

Picture courtesy of GOV.UK

 

#news

Full story: https://thethaiger.com/news/business/thailand-and-uk-strengthen-ties-towards-strategic-economic-partnership

 

-- © Copyright Thaiger 2023-06-29

 

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[Bday Prang]

another positive consequence of brexit????

[Thingamabob]

Good news. Expect more to follow. From a UK perspective Mordaunt appears to be one very few UK govt ministers who is both active and competent.

[edwinchester]

53 minutes ago, Thingamabob said:

Good news. Expect more to follow. From a UK perspective Mordaunt appears to be one very few UK govt ministers who is both active and competent.

She's the moron who denied all the doctors from the EU in the NHS who left in the years after 2016 has absolutely nothing to do with Brexit.

[edwinchester]

3 hours ago, Bday Prang said:

another positive consequence of brexit????

Yeah I fully expect trade with Thailand to replace the billions lost from trade with the biggest economy in the world right on the UKs doorstep.

[JonnyF]

Ahhh. Another Brexit bonus. Free from EU rules and regulations and able to make our own partnerships.

 

I believe the EU's attempts at closer ties to Thailand have been floundering for years. But we all know how long it takes for that monolithic organization to move. I guess that's why the EuroZone is in recession while the UK has avoided it.

 

https://edition.cnn.com/2023/06/08/economy/eurozone-recession/index.html

 

It seems Brexit was a cliff edge after all. Just not for the UK.

[Moonlover]

3 hours ago, Bday Prang said:

another positive consequence of brexit????

Was there another one?

[Purdey]

14 minutes ago, JonnyF said:

Ahhh. Another Brexit bonus. Free from EU rules and regulations and able to make our own partnerships.

 

I believe the EU's attempts at closer ties to Thailand have been floundering for years. But we all know how long it takes for that monolithic organization to move. I guess that's why the EuroZone is in recession while the UK has avoided it.

 

https://edition.cnn.com/2023/06/08/economy/eurozone-recession/index.html

 

It seems Brexit was a cliff edge after all. Just not for the UK.

Even the British parliament in June 2023 says EU is doing better that the UK. 

"Compared to the pre-pandemic level, UK GDP in Q1 2023 was 0.5% lower. This compares with Eurozone GDP being 2.2% higher than its pre-pandemic level, while US GDP was 5.4% higher."

http://researchbriefings.files.parliament.uk/documents/SN02784/assets/02fe7c88-f93f-4836-a33a-724c022ac762.png

https://commonslibrary.parliament.uk/research-briefings/sn02784/#:~:text=Compared to the pre-pandemic,UK GDP growth was 4.1%.

 

[JonnyF]

6 minutes ago, Purdey said:

Even the British parliament in June 2023 says EU is doing better that the UK. 

"Compared to the pre-pandemic level, UK GDP in Q1 2023 was 0.5% lower. This compares with Eurozone GDP being 2.2% higher than its pre-pandemic level, while US GDP was 5.4% higher."

http://researchbriefings.files.parliament.uk/documents/SN02784/assets/02fe7c88-f93f-4836-a33a-724c022ac762.png

https://commonslibrary.parliament.uk/research-briefings/sn02784/#:~:text=Compared to the pre-pandemic,UK GDP growth was 4.1%.

 

Why are you comparing it to 2019? The UK has made huge strides since then. Left the EU, signed loads of trade deals etc.

 

From your link, here is more recent data.

 

 

UK has growth. EuroZone is in recession. 

 

Germany, the powerhouse of the EU is in recession.

 

https://www.reuters.com/markets/europe/german-business-sentiment-falls-further-june-2023-06-26/

 

 

Doesn't seem like all the doomsday predictions are coming true. Well, not for the UK anyway...

[Purdey]

13 minutes ago, JonnyF said:

Why are you comparing it to 2019? The UK has made huge strides since then. Left the EU, signed loads of trade deals etc.

 

From your link, here is more recent data.

 

 

UK has growth. EuroZone is in recession. 

 

Germany, the powerhouse of the EU is in recession.

 

https://www.reuters.com/markets/europe/german-business-sentiment-falls-further-june-2023-06-26/

 

 

Doesn't seem like all the doomsday predictions are coming true. Well, not for the UK anyway...

Sorry,  but the economic experts are saying: "UK expected to be only major economy to shrink in 2023 - IMF". 

 

https://www.bbc.com/news/business-64452995

https://www.independent.co.uk/news/uk/home-news/imf-recession-germany-uk-gdp-2023-b2272655.html

You may want to address those organizations not me.

[soalbundy]

The UK probably wants cheap fruit for their food banks, the only organization on the island that is expanding.

[JonnyF]

6 minutes ago, Purdey said:

Sorry,  but the economic experts are saying: "UK expected to be only major economy to shrink in 2023 - IMF". 

 

https://www.bbc.com/news/business-64452995

https://www.independent.co.uk/news/uk/home-news/imf-recession-germany-uk-gdp-2023-b2272655.html

You may want to address those organizations not me.

"Expected" lol. 

 

We all know how people love to talk down the UK economy before the real figures prove them wrong. It's a national sport.

 

https://theconversation.com/uk-economy-why-the-bank-of-england-is-now-more-upbeat-than-the-imf-205670

 

 

Back in the real world, it is the EU with the real problems.

 

https://www.politico.eu/article/germany-olaf-scholz-europe-eurozone-slipped-into-recession-and-everyone-should-be-worried/

 

 

Must be tough to read after bleating about what a disaster Brexit was going to be.

 

 

 

[JonnyF]

4 minutes ago, soalbundy said:

The UK probably wants cheap fruit for their food banks, the only organization on the island that is expanding.

Yes, the only thing expanding except for GDP ????.

 

https://www.dailyfx.com/news/forex-gbp-breaking-news-uk-economy-expands-0-1-in-q1-of-2023-gbp-usd-bid-20230512.html

 

[soalbundy]

8 minutes ago, JonnyF said:

Yes, the only thing expanding except for GDP ????.

 

https://www.dailyfx.com/news/forex-gbp-breaking-news-uk-economy-expands-0-1-in-q1-of-2023-gbp-usd-bid-20230512.html

 

and the national debt along with inflation

[Srikcir]

1 hour ago, JonnyF said:

Free from EU rules and regulations and able to make our own partnerships

"Bangkok stops up efforts to maintain economic ties with Britain following Btexit vote" ref. July 2016, thediplomat.com

So finally after seven years? And what Thailand has now is an MOU and a "partnership." Neither of which had any real enforcement to a breach of contract that one would find under a Free Trade Agreement. Why no FTA?

"The EU and Thailand announced the relaunch of negotiations for an FTA in March 2023. In 2020 total bilateral trade between the EU and Thailand amounted to €29 billion." ref. Policy.trade.ec.europa.eu

Glad to see UK finally got a partnership with Thailand.

[edwinchester]

2 hours ago, JonnyF said:

Ahhh. Another Brexit bonus. Free from EU rules and regulations and able to make our own partnerships.

 

I believe the EU's attempts at closer ties to Thailand have been floundering for years. But we all know how long it takes for that monolithic organization to move. I guess that's why the EuroZone is in recession while the UK has avoided it.

 

https://edition.cnn.com/2023/06/08/economy/eurozone-recession/index.html

 

It seems Brexit was a cliff edge after all. Just not for the UK.

Many business leaders in the UK are calling for the UK to align with EU regulations to simplify trade as they recognise going it alone will be disastrous for industry. The CEO of Ford UK did exactly this recently.

The EU cutoff trade talks with Thailand in 2014 in response to Prayuts coup. They've recently reopened negotiations just prior to the recent election.

The UK is the only G7 economy still below pre pandemic levels.

[Dah fahrang]

"JETCO Director-General Auramon Supthaweethum spoke at length about the expected sectors that are set to benefit from this economic bolstering. These sectors range from food and drink, health, education, the automotive industry, agriculture, and the digital sector. The subsequent aim of these actions is to form a foothold for future negotiations of free trade between the two nations."

 

Expected sectors! So, when Free Trade actually materialises, and I can readily get my Marmite, Bisto, Tetley tea bags, Robinsons fruit juices and other UK indulgences at prices considerably lower than now, I'll just dismiss this as more meaningless hollow talk: utter drivel.

[Yorkshire Tea]

3 minutes ago, Dah fahrang said:

3 minutes ago, Dah fahrang said:

So, when Free Trade actually materialises, and I can readily get my Marmite, Bisto, Tetley tea bags, Robinsons fruit juices and other UK indulgences at prices considerably lower than now, I'll just dismiss this as more meaningless hollow talk: utter drivel.

 

You're probably paying too much for those due to price gouging by sellers here.  I buy Typhoo teabags on Lazada cheaper than in UK.

[newbee2022]

????????????.......2 lame ducks....?

[Bday Prang]

3 hours ago, Yorkshire Tea said:

You're probably paying too much for those due to price gouging by sellers here.  I buy Typhoo teabags on Lazada cheaper than in UK.

yet another brexit positive !

[vinny41]

4 hours ago, edwinchester said:

Many business leaders in the UK are calling for the UK to align with EU regulations to simplify trade as they recognise going it alone will be disastrous for industry. The CEO of Ford UK did exactly this recently.

The EU cutoff trade talks with Thailand in 2014 in response to Prayuts coup. They've recently reopened negotiations just prior to the recent election.

The UK is the only G7 economy still below pre pandemic levels.

Latest Figures from OECD and IMF

OECD and IMF forecasts

 prices. The OECD forecasts UK GDP to rise by 0.3% in 2023 and by 1.0% in 2024.

 The IMF has since published new upgraded forecasts for the UK, with GDP growth of 0.4% in 2023.

https://commonslibrary.parliament.uk/research-briefings/sn02784/

[Bday Prang]

5 hours ago, soalbundy said:

The UK probably wants cheap fruit for their food banks, the only organization on the island that is expanding.

Construction is doing really well, has been since before covid, and with most of the invading east european cowboys back where they belong, that means a lot

       more job opportunities for British people.

       better wages for workers,

       more of the wages earned from those jobs staying, and being spent in the country,

       more opportunities for school leavers 

       strong incentive for our world leading  construction companies to train their own workforces             and invest in the development of effective training schemes  for future needs

       Not forgetting less unemployment

 

  All good for UK  And all because of Brexit 

 There are plenty of positives from brexit , of course they are rarely mentioned by the mainstream media, and cannot be seen by those who do not wish to see them or,  refuse to believe in there existence 

 

      less unemployment    

 

[dunroaming]

8 hours ago, Thingamabob said:

Good news. Expect more to follow. From a UK perspective Mordaunt appears to be one very few UK govt ministers who is both active and competent.

Certainly Mordaunt looks like being the next choice for PM before the GE.  Question is, will the Conservatives risk being even more of a laughing stock with yet another leadership change so soon?

[dunroaming]

5 hours ago, edwinchester said:

Many business leaders in the UK are calling for the UK to align with EU regulations to simplify trade as they recognise going it alone will be disastrous for industry. The CEO of Ford UK did exactly this recently.

The EU cutoff trade talks with Thailand in 2014 in response to Prayuts coup. They've recently reopened negotiations just prior to the recent election.

The UK is the only G7 economy still below pre pandemic levels.

Meanwhile another capitulation by Hunt to the EU over financial services.  All going swimmingly well isn't it?  No wonder the Brexiteers are spitting blood!

[Bday Prang]

          Even in the hypothetical scenario, of  the UK.as a direct result of brexit, forming  some sort of bilateral agreement with Thailand which resulted in easier visa restrictions and an abundance of their favorite english beer at supermarket prices the petulant sulking "remoaners" would still find a downside. so as to avoid what is very similar to the Thai concept of losing face.

 

          These people absolutely amaze me,  continually looking for bad news regarding brexit, and , with a perverse joy, never missing an opportunity to squeeze it in to any conversation  

        Conversely any good or positive news is ignored wherever possible, but if that is not an option they will do their level best to put a negative spin on it

 

           They are acting in exactly the same way, as a sad, pencll dlcked, impotent, jilted loser would act, when receiving some news about his ex girlfriend, who recently dumped him, for his better endowed and virile best mate.

           There is probably a medical term for the disease which causes such behaviour, I wouldn't know, but either way its not very beneficial for anybody when the mainstream media all appear to suffer from the condition, The, continual almost daily  promotion of a sullen resentful view on life, within the vulnerable "mainstream media believing" members of the population, will do nothing for the rest of us or for national moral, which is not exactly at an all time high following their recently very successful 3 year terror campaign

          Even more worrying is the fact that many government officials and civil servants directly responsible for implementing the various brexit protocols and dealing with any problems that may arise etc are also suffering from the same disorder. They would rather see the entire country bankrupt than suffer the perceived indignation  of success.  Some of them should be on trial for treason and hanged if found guilty 

           

 

 

[Bday Prang]

8 hours ago, edwinchester said:

Yeah I fully expect trade with Thailand to replace the billions lost from trade with the biggest economy in the world right on the UKs doorstep.

That's the spirit  think positively, and there is no need to be a member of the european union to trade with it, china and india seem to manage ok  presumably they are busy, successfully making up the billions worth of trade that for some "unsurmountable" brexit related reason , we are no longer able to involve ourselves in?

[mikebell]

21 hours ago, webfact said:

a 1-2 year work plan was approved to facilitate trade expansion and reduce trade barriers within the aforementioned mutually interesting sectors.

Any move to unfreeze UK State pensions?

[JonnyF]

15 hours ago, edwinchester said:

Many business leaders in the UK are calling for the UK to align with EU regulations to simplify trade as they recognise going it alone will be disastrous for industry. The CEO of Ford UK did exactly this recently.

The EU cutoff trade talks with Thailand in 2014 in response to Prayuts coup. They've recently reopened negotiations just prior to the recent election.

The UK is the only G7 economy still below pre pandemic levels.

Old figures. Vinny already corrected you.

 

The EU has been working on a trade deal with Thailand for decades. Given the way the EU negotiates I can't see it happening within the next 10 years.

 

Anyway, that's their problem. We're out of the corrupt federalist project and our economy is growing, unlike theirs .

[JonnyF]

16 hours ago, Srikcir said:

"Bangkok stops up efforts to maintain economic ties with Britain following Btexit vote" ref. July 2016, thediplomat.com

So finally after seven years? And what Thailand has now is an MOU and a "partnership." Neither of which had any real enforcement to a breach of contract that one would find under a Free Trade Agreement. Why no FTA?

"The EU and Thailand announced the relaunch of negotiations for an FTA in March 2023. In 2020 total bilateral trade between the EU and Thailand amounted to €29 billion." ref. Policy.trade.ec.europa.eu

Glad to see UK finally got a partnership with Thailand.

It's not 7 years though is it? We left in 2020 just as the pandemic struck.

 

Imagine back then if we'd predicted that just 3 years later Germany and the Eurozone would be in recession while the UK outperformed it by avoiding recession. We'd have been laughed out of the room. Yet here we are. Incredible turnaround for the UK, and this is just the start. I must say I expected the benefits of Brexit to take much longer to materialize but I am very happy it has started so soon.

[jacko45k]

34 minutes ago, mikebell said:

Any move to unfreeze UK State pensions?

Last  I heard it had been rejected and unlikely to be debated again soon.... maybe after Scottish independence... the Jocks will get a pension rise!